♪ ♪ imus in the morning ♪ >> morning, everyone, welcome to "varney & company." looks like another win for stocks as the new week begins. not a huge rally, but enough to wipe out the jobs report plunge. look, there's a long list of problems, north korea, europe, the disability fund running out of money, few jobs, out of control, we've got it all, but this stock market seems to want to go up and it will when the trading starts. and we have one very sad note this monday morning. a champion of capitalism and

freedom is no longer with us. margaret thatcher is dead at the age of 87. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. are you still sleeping? just wanted to check and make sure that we were on schedule.

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>> monday morning, april the 8th, we're waking up to obama's america, no job growth, a struggling economy and entitlements that are breaking the bank. according to the wall street journal the social security disability fund will run out of money in 2016, three years from now. rising disability hurting the economy. look at this number, 1/4 of the people who left the work force since the recession have gone on to social security disability. there's no incentive for them to come back to work because the payer is so high. and tens of billions of lost

wages and lost revenue, this is not good news for the economy. here is the big picture, fewer full-time workers supporting an ever larger number of non-working people. not sustainable. however, look at that, the market looks set to open higher and when it does, it will have reerased the initial losses following friday's horrible jobs report. and now this, former british prime minister margaret thatcher is dead at the age of 87. thatcher was a staunch opponent of socialism. she was an ally of the great president ronald reagan and the free market economy. the iron lady will be remembered for her confrontational style and steadfast leadership. she revitalized the british economy, she revitalized britain, she will be a thread throughout today's program. here she is on the floor of parliament. >> the honorable gentleman knows i have the same contempt of his

policies as the people of east europe have experienced-- i think i must have hit the right nail on the head he when i pointed out to the logic of those policies-- . it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure,

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>> morning, everybody. we're just a minute from the opening bell. all right, joining us now from

chicago is scott shellady. i'm looking at the indications and a market that's going up again. seems to me this stock market wants to go up no matter what. what do you say? >> well, i mean, it's a search for yield, stuart. not even i could consider, or would have guessed that we could have the disastrous jobs report that we had on friday and the 10-year yield below on friday, but ultimately going forward we've got the money managers that have to bring something back to the investors. they'll search for yields as long as we're printing money and that's in the stock market. maybe today would have been-- >> what i'm getting at, there is this built up momentum. it wants to go up, but like nothing gets in its way. >> yeah, but that's not common-sensical. we're looking for some way to bring money back to investors and because the fed is printing those managers are taking it and putting it in the stock market. there's no where else to put it. can't loan it to the government

for 1.7% for ten years, gold is going down, what are you doing with the cash? stock market. maybe now would have been time for margaret thatcher's common sense policy and put us on the right track going forward. stuart: scott, you are so right. she's going to be a presence on the show throughout the program. and the bell is ringing, monday morning, where are we going closed out friday, 14,565. odds are we're going up a little at the opening bell. all right, we're down 4 points. let's see how things work out after a couple of minutes. right now we're at 14,560. all right, nicole, i think we've just about wiped out the losses we took in the first few minutes after that jobs report on friday. can you tell me if there are any dow stocks that are really leading us up this morning? i know the dow is down 13, but anything leading us up? >> yeah, there are names leading the way. of course, we have alcoa, the second best performer, reporting

after the bell. the aluminum maker, some people are worried about the numbers because of the aluminum prices and cisco systems, and j.p. morgan and bank of america doing well, so, you do have some winners, certainly, stuart. >> thanks so much, nicole. the market has in fact opened down and the indications, that's the futures market, we're supposed to point the way, 20, 30 points higher and that's earlier in the day and we're 10, 11 points down after one minute of business, we do have another debt crisis in europe, same old same old and this one is from portugal and they struck down some of their austerity measures and fighting hard to avoid another bailout and then we have greece, they suspended the bank merger between the euro bank and both face nationalization and come back in, nicole, i'm looking at the national bank of greece, i don't know, as an indicator for greece generally and it's down 11%. what do you say?

>> right away it's an indicator. and it it always tells the story, today when you look at it a new 52-week low. when you look over the last six months, it's down over 70%. so you're talking about our markets here in the states that are pushing new highs, breaking through the ceilings and resistance levels and national bank of greece selling off 70% in the last six months and today is no different and stuart, it's down over 11%. >> this is one area where we can play the death watch music. cue that organ for the national bank, thank you, because i don't think they're going to make it. that's another time. thanks a lot. we're down 26 points on the dow industrials, going the other way for what we're expecting from the futures market activity. and we're at 14, 540. the big theme on the show today, obama's america, and not doing well. looking at some of the numbers, first of all, 58% of the jobs added since the '08 recession

are low wage positions, and there are nearly 9 million people on disability. a system, social security disability system, the wall street journal said it will be broke in three years. a quarter of the people who dropped out of the work force since the recession went straight on it disability and the total number of adults who are just not working rose to nearly 90 million in march, all-time high. doug schoen joins us now. doug, this is not working. this economy, obama-- i don't think it's working. my question to you is, is this president going to change course at all with his economic policies in the next three years? >> oh, i think we've seen an indication last week that he's going to start, albeit very slowly, he's proposed, i think, reforms to medicare and social security, very limited reforms, reimbursements to doctors and the changed cpi for social security, but at least he recognizes that he has to change his approach.

stuart: but, it's a minuscule change of course on entitlements and it in no way fixes the entitlement problem. meanwhile, he's proposing very significant tax increases, over a trillion dollars of extra revenue by cutting back on pensioner-- pension funds and cutting back on the tax write-offs to wealthier people, it's not a change of course. >> i didn't suggest it was a change of course. it is a difference from what he's proposed before, but you're right, stuart, that with him making tax increases a condition precedent to doing any sort of entitlement reform, his proposals are dead on arrival and bottom line, i agree with you. we're talking margaret thatcher, she broke the chain of entitlement in britain. we need to change that approach here because even i, as a democrat, say we simply can't afford the social programs we're

providing. stuart: so you're a democrat, but you're also very -- you're a thatcherite to some degree, aren't you? >> i'm somebody who believed in a mixed economy. i don't believe in deficit spending to pay for programs that encourage dependence and i think that we have to empower the capitalist system. if that makes me a thatcherite, so be it. my dissertation, as you know was on i call myself a liberal democratic powellite. >> i don't think there's hardly anybody else in the democratic party who is with you on this. when the obituaries roll in today for margaret thatcher, who passed away, i don't think you're going to get much support from the left. the left is going to demonize her for introducing a bigger take all or darwinist, capitalist society. they're not going to be in favor of her. >> well, i would say that you have to, and i certainly do, respect people who have had a

transcendent impact on the world whether you agree or disagree. one aspect of her record you're not speaking to, because we haven't gotten there, which is freedom, stuart. she empowered people and spoke about freedom in eastern europe, obviously, something that meant a great deal at the time and still does. so, i think all of us given that we're in a world conflict now, iran, north korea and the like, al qaeda, we have to remember what margaret thatcher stood for, not only domestically in britain, but around the world. stuart: well, president obama is all for entitlement. all for redistribution. taking from here and giving to here, buying votes. he is the direct opposite of margaret thatcher, isn't he? >> well, he certainly stand for a different social philosophy. i think it's also worth noting to our viewers, you've said that

i'm the only democrat who holds to my philosophy. i think, hopefully, when hillary clinton returns and i hope she does, given her reemergence on the national stage, she might have a different perspective. stuart: i've gotten seconds. do you think she could win in 16? >> i think she can win and will win and a resurgence in democratic philosophy and hopefully democratic victory. stuart: we hear you, thank you as always. >> stuart, thank you for having me. stuart: the environmentalists are at it again. the latest push, a new ad campaign that uses scare tactics in an attempt to block the pipeline. new at 10, we play the ad and then we report the facts of the case, new at 10. now, it's friday -- monday morning, the dow is down 20 and i've got early movers. stock picks, we've got the drug maker biocryst, good on the fda for the flu treatment.

charles will have more. it's up big time 24%. general electric is going to buy the oil field services provider, that's lufkin, straight up in the air goes lufkin, 37% higher. more big names you know, we've got macy's and its rival j.c. penney due back in court haggling over martha stewart home goods. macy's is up on the news and up 11% so far this year and now look at j.c. penney, down 22% so far this year, but up a little, just a fraction this morning. alcoa will kick off what i call the profit season after the bell today. and alcoa is a dow stock and it's up-- and boeing's rival airbus set to close a 7 billion dollars order from british airways, boeing down on that $85 a share. the battle between the billionaire investor carl icahn and dell, will he force the company to pay a dividend? the market says we're not sure

because it's dead flat. interesting this monday morning, we're only down now 21 points. we were expecting a gain. we got a very modest selloff. the dow is at 14-5. and time is money. here is 60 seconds with the other stories we're following for you. can what happened in cyprus happen here? that is the confiscation of private savings? we have someone who says, yes, it can happen here. perhaps the president is proposing something similar in his budget. he'll be our guest this morning and says yes, we can confiscate. and the e-cigarette business booming. nicotine without the smoke and fda wants to regulate them. we'll ask the ceo of one e-cigarette company what that would do to his business. the man who won big at wrestle mania last night, we're talking the very, very, big still wrestling, millions of bucks, with one of its biggest stars. he will join us at 10:45 this morning. look at the price of oil today.

we're struggling back to $93 per barrel. now, to me, the writing is on the wall. the economy is weak, growth is slow, the jobs not there. the obama economy, in my opinion, not working. eric bolling is here, does he agree with me? his answer may surprise you. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine.

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to learn more about lyric's advanced technology, call or visit trylyric.com for a risk--free 30--day trial offer. you'll also get a free informational dvd and brochure. why wait? hear today what a little lyric can do for you. get the hearing aid that can. lyric from phonak. lyric can. >> a modest loss in the early going, holding at, eric bolling is here and you and i may have a disagreement and i hate to fall out with-- but i say the economy is weak and obama's america is the not working. are you going to disagree with me? >> yeah, i will, i will. but we're on the third, almost fourth year of a, you know, an extended recession or malaise,

let's call it like that, but for about the better part of a year now, i've said things are starting to turn around and they are. the stock market, we're cracking the at new highs almost every week and no, no, i know the stock market is not the economy. and if you count the people that left the work force, unemployment would be high, we're in the new normal, and housing prices starting to come around. stuart: no and-- >> what do you want. the housing market coming back and the labor department connelling back and, we're running out of markets. stuart: the labor market isn't coming back. >> sure it is. stuart: the only reason it's coming down is because people are walking away from the labor force. we have 3 million fewer jobs today than we had at the height of 2007. >> absolutely true. stuart: and policies would give a stronger rate of growth and healthier housing and labor

market. >> is it the best? no, is it coming around? yes, i think it is. not because of president obama, but in spite of president obama's policies of tax and spend, tax and spend. stuart: i'm not going to settle for this? are you going to settle for less than 2% growth and-- >> i don't think we're going to have less than 2% growth in i think we're going to see north of 2% as soon as the housing market ignites and it's starting to. when that kicks in, then you'll probably see, who knows, 2, 3, 4% growth going forward. >> let's transfer to the stock market. the stock market. >> ripping. stuart: you're right it, wants to go up and and you think that's because of the corporate profitability and the beginnings of recovering. i say it's because ben is printing money and the japanese are printing up a storm. do you disagree with me? >> no, it's going higher for whatever reason it's going higher. you want to be in stocks. look, i took a lot of money off the table over the last couple of weeks, i talked to a lot of people, and sent e-mails out i'm

going to sell 20% here and another 20% here. not because i don't think the stock market is good going forward, i think it is, i think it's due for a pullback, a nice move, 100% move off the bottom and 100% something off the bottom and deserves to correct. when it corrects i'll talk about the opportunities and i think that banks are going to be good going forward and when we also correct, i look at the home builders, i think they're undervalued. home building is coming around and home builders haven't participated. they have, they have, but not to the extent i think that they can get back to around the areas they were at the height of the-- 2005, '06 and '07 area. stuart: all right, margaret thatcher, i say she revitalized the morality and the economic performance of my home country, flat-out revolution, turned it around. i say we need margaret thatcher in america now. more than ever. you're not going to disagree with me? >> absolutely not. i wish we had margaret thatcher,

ronald reagan, a thatcher-reagan revolution which is what they did. they got together on both sides of the pond brought conservativism and smaller government and keeping your own money to spark the economy back in two places, more so in great britain on its ear before mar grets thatcher. she went with smaller money, invest in yourself and your business and ronald reagan did that here as well. stuart: we lost a champion of capitalism and a champion of freedom, a sad loss. >> that we agree on. stuart: yes, we do. eric, thanks a lot. good to see you again. >> all right. stuart: time for the gold reports, where are we? and stocks are virtually unchanged. gold up 10 cents, 1576. and this is a truly heart warming story. we bring it to you on a monday morning. might bring a tear to your eye, did to me. a 7-year-old cancer patient gets a chance of a lifetime.

do not miss this, cheryl casone and charles payne coming up next on this.

>> jack, here he goes. got blockers out in front. and he's running to midfield.

listen to this crowd. jack hoffman, a young man, as i mentioned has been adopted by the football team, just scored a touchdown. oh, what a moment. stuart: yeah, what a moment. that was 7-year-old jack hoffman, the boy diagnosed with breast cancer, as you saw on the weekend played a roll in nebraska's spring football game on a 4th and 1 play jack took a hand off 69 yards to the touchdown and riding on the shoulders of the players afterwards, it's terrific, isn't it? good for the players and good for what they did and fine young man. brought a tear to my eye, i'm not kidding. and staying with sports, less heart warming. i want to know why the ncaa championship game tips off at 9:23 tonight. i'll be fast asleep by the time michigan and louisville tips off tonight. i'm not outraged. cheryl: why? why are you outraged? have you seen the ratings for march madness best thing that

happened for cbs since blue bloods. amazing the number. stuart: it's a school night. kids want to watch this. how are they going to stay up until 11:30 or midnight watching basketball? >> i don't know why they chose to make it 9:23 eastern time and you're thinking eastern time, isn't it carried life across the country and 8:23, 7:23, 6:23. stuart: and the east coast is where it's popular. cheryl: and us new yorkers, come on. stuart: charles, bail me out. no he sympathy from cheryl. charles: they tried it at different times and the people going to buy the stuff showing in the commercials they'll be watching. they don't care about the kids, care about the kids parents. cheryl: the east coast kids. i used to live in california, come on. stuart: done enough damage already. opponents of the keystone mri pipeline not backing down and

now they're taxing savings accounts in cyprus, actually confiscating them. does the president's new plan take a page from the play book? you'll want to hear this. all stations come over to mission a for a final go.

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>> monday, april 8th, on this new hour of "varney & company." we have for you a round of anti-pipeline tv ads. may i say that the opposition is looking just a little desperate on this? the fda may regulate those very successful electronic

cigarettes. we've got the story. and we thought that stocks were going to recover from friday's bad jobs report, but the dow is down 50 points. what is going on? and there's sad news this morning for those who love freedom the world over. margaret that much are, dead at the age of 87. ♪ let's start with the markets, it's a monday morning. we were expecting the dow to go up. that's what you would have thought, if you looked at the futures market earlier today. but no, we're down 51 points and i want to ask our experts, starting with charles, who's laughing. why are we down? >> you know what? i'm not 100% sure. we know that the jobs report was pretty bad and i think portugal, to be honest with you, i think -- i don't know-- >> they're fighting to avoid a second bailout and respected some austerity measures.

charles: listen, how much pressure did cyprus give us? cyprus? now, portugal isn't the largest economy in the world, but it's larger than cyprus and goes to show you if they want to unwind their terms, does greece come back and what if italy demands. if they can't accept the austerity terms that they've laid out to get this money, this is scary stuff. my initial hunch it's coming from europe. stuart: you think it's coming from europe? anything to add. cheryl: i think that's a piece of it. obviously, just to add to your point, portugal, spain and italy, can we have a run on the banks in this country, they could, if things deteriorate and a note from goldman sachs came out on sunday and talked about a gdp slowdown. stuart: hold up, hold up. goldman sachs said what? >> okay, the first quarter, they're predicting 3% gdp. q-2 and-- >> economic activity in the united states.

stuart: spell it out. that's not what they were expecting and turned around and said it's going to be lower. cheryl: yeah. they're saying that we're going to have 2% growth in the second quarter and 2% growth in the third quarter and backing off the earlier predictions and i think with the trading desks around the city, they do listen to what goldman has to say. charles: the only thing, that comes out sunday and the equities futures were higher this morning and people kind of knew that before the futures went up and plus, no one is expecting robust growth here. i don't know if you go from 2.3% to 2%, who is expecting anything over 3%? there's something, obviously, a big move. cheryl: a mixture. charles: a mixture of a lot of things and anxiety. stuart: now this, reach back for a second. some are blaming that very bad jobs report on the sequester. listen to this from market watch, direct quote. the government cutbacks have already been slowing our nation's economic growth and are now actively pulling employment downward. but the worst may yet be--

be yet to come. cheryl, how do you say that the sequester is responsible for the lack of jobs in march when the sequester furlough letters didn't go out until later, after the jobs report was compiled? makes no sense. cheryl: it's another way to look for an excuse. stuart: thank you. cheryl: that's what i believe it is is, an excuse. companies as we've talked about many times on this network have no incentives right now to hire they're under the guise of more regulation and i'm sorry to go back to the economic growth. we don't have certainty about the u.s. economy right now and there's just not a lot of reasons to add jobs. part of it is the administration and part is slowdown and many big u.s. multinationals aren't making the money they were making overseas as well. stuart: the tax increases that went into effect on january the 1st. charles: the economy, that doesn't help the fragile economy. we lost 7,000 government jobs,

talking sequester, 12,000 came from the post office and you could argue that net-net outside of the post office we were actually up and that takes the sequester off the table. stuart: it takes it off the table. constellation brands, nicole, they make corona, very kinds of liquor, i believe. why are the shares hitting a high. nicole: it's known for its wines as well. anheuser-busch was trying to go forward and department of justice was concerned that the beer prices in the u.s. would go higher and anheuser-busch has made an agreement with the u.s. justice department for a frame work to settle this whole thing. anheuser-busch inbev part of grupo modelo, and in order to make it happen, and make it better, they were going to sell 50% share of modelo, crown imports over to constellation. each time the headline came out that this wasn't going through,

constellation goes down and now when you get a headline, it looks like it's going to go through, constellation goes up. and that's what we're seeing today and it's an annual high for constellation. stuart: my head is exploding, as long as i kn that it's not more beer and wine drinking that's leading constellation brands up. now i know the story. nicole. >> it's all about money and you know it. >> precisely, that's right. now, over in cyprus, they seized private money as part of the conditions to get another bailout. the obvious question we've been asking for weeks, could that happen here? our next guest says, yes, it could. when you look at the proposals in the the president's budget that deals with retirement accounts. and cliff chambers joins us now. let me try and straighten this one out here, according to our leaks from the budget proposal, the president would cap pension plans, your pension account, your 401(k), ira, cap it at 3

million dollars. if you're suggesting if you've got more than 3 million dollars in one of these pension plans, he would seize it? are you suggesting that? >> well, just, you won't get a tax break on it and that actually is equivalent of a billion dollars a year more tax, so, it's more tax. it's not confiscating it, if you put it in you won't get the tax break on it, it's a limit. and it's a wedge. and you've seen the thin end of the wedge going into pensions all over the developed world, all over europe and now starting to happen in america. stuart: but cliff, i've got to make the distinction, this is not a cyprus situation? the president and the administration, our government here is not going to seize private assets. i want to make that very clear. there's a lot of scare out there. i want to make this very clear. >> yeah, it's a chronic solution, it's not an acute grab for people's pension. so that's, but it's nonetheless

more tax, less pension. stuart: yep. can you tell me any more about this capping deductions at 28%? 'cause that's another tax on wealthier, more successful people. >> well, the original idea for these savings accounts was essentially that you'd put in a few thousand dollars a year and what's happened, people have found ways of putting a lot more than that into these accounts, so you've got people ending up with pots of millions of dollars in there, and that's what's caused the trouble with these accounts, so the government is trying to say, hey, it's not meant to build up, 20, 30, 50 million dollars in this account and then be able to hand it it over to your family when you die. that's not the purpose. so we're going to cap it. but nonetheless, it's a cap. nonetheless, it's more tax, nonetheless, it's less pension, so that's really what is going on here, it's less pension, you're not allowed to succeed above a certain limit and it's a thin end of a wedge and you've seen that going on all over the developed world, which where the countries have been in debt.

they've actually turned to raiding pensions and all sorts of different levels because they need money to fill their deficit. so this is the kind of deficit maneuver and it's coming out, the savers rather than the borrowers. stuart: i notice you've got a british accent. i didn't know you're from the u.k. and now i find out. okay. do you have a comment on margaret thatcher? it seems to me that america could use another ronald reagan, another margaret thatcher right now. >> absolutely. i actually played cricket for the tory party so i'm very sad today and my team members, my fellow cricketers are very sad. she was clearly the only anti-socialist for many being many years since the war and she rolled back the state and that's what you need in america and what is needed in europe is rolling back the state. the state controls everything. and she rolled the state. and the minute she left power,

she put the state back in place and that was -- she stopped britain's decline for at least a decade maybe 15 years responsible for turning the u.k. around as reagan turned america around. stuart: did you see any politician of prominence on the horizon today who could do the same thing? >> no, i'm afraid i don't. stuart: either in britain or in the united states, you can't see it? >> no, no, i don't see anybody like that. i don't see anybody that's prepared to run against the grain of current politics, not only outside their party, but within their party. there's no mold-breaker out there. there are people trying to clip back the edges of politics and of the situation nobody prepared to take an ax to the problem. no man or woman of destiny and she was a woman of destiny and britain sorely miss that is kind of thinking and attitude. stuart: i'm in 100% agreement with you. would you say, therefore, that the fundamental nature of british and american societies has changed?

it's now completely different from the reagan and thatcher years? we've become anti-capitalist, we've become collectivists? have we changed that much? >> well, i mean, we are collectivists now, but you've got to remember the '70s were deeply collectivist as well. in europe in particular. they rolled it back and tried to put things back to where they were before socialism got its fangs into our societies and they succeeded. in britain everything was owned by the state, the car manufacturers were owned by the state, steel, you name it. she rolled that back and people, again, could own part of the infrastructure. but again, it's really rather been rolled back again. so instead of nationalization you've got overregulation. the socialists running, collectivization of our societies carried on after those two people left and we're getting more and more collectivized. >> and a sad day for those who

love individual freedoms, thank you, we appreciate it. no impact on the markets, but the latest from overseas. today north korea suspended its last major industrial project with the south, severing communications between the two countries. by the way, a minister in south korea said the north could be preparing to carry out a nuclear test, but then he backed off that statement. okay, that's north korea. and as of today, seven people have died from the bird flu in china. two more cases of infection from the new strain have been reported and health officials say the virus is spreading through direct contact with infected birds, that's a big deal. and china's officials slaughtering thousands of birds. and as a decision on the keystone pipeline gets closer, the battle between supporters and environmentalists really heating up all over again. and check out the latest protest video on keystone. >> it's not if, it's when. it's happened before, and now, again. keystone xl doesn't go to the

u.s., it goes through the u.s. sending oil to places like china and venezuela, putting us at risk while big oil gets the rewards. connect the dots. it's a pretty ugly picture. stuart: all right. so, they're saying watch out, spills are coming. watch out, we're going to get this oil from canada and then reexport it. watch out, it's big oil profiting all over again. cheryl: watch out, there's going to be thousands of jobs created from the pipeline going through all of the states. you just saw on the map. i'm so tired of hearing the whining about this pipeline. we need the economic activity. i know i'm on a rant this morning. we need jobs in this country and ridiculous they're using frankly somewhat misleading and about the flow of oil in particular both of you know that very well. stuart: i think they're desperate. that's my reading of that commercial. charles: they are desperate. i've got to tell you. i watched face the nation and you get commercials like this

and nothing on the jobs report. and the message they're foisting on the public. we've got millions of pipelines throughout this country. to cheryl's point, hundreds of thousands of jobs, but not just keystone, but in new york state and other places. how can lawmakers look in the mirror and do this? i can understand the celebrities flying around in private jets, disconnected from the average person, needing a job and put food on the table. but how can lawmakers? >> i can't believe that the environmentalists have that many votes? when the votes are tallied do they have enough to kill this. cheryl: i don't think they did, but the companies themselves have been vocal in saying, they don't want to destroy the environment either and be sued. stuart: exactly, of course not. charles: who wants-- for a few billion dollars? >> i've got to interrupt, i've got to nicole, i've got wynn resorts leading the s&p 500. i don't know why, but you're

going to tell us. >> we talk about these stocks-- sin stocks regardless of the economy. and this is a $120 stock today up about 2%. we've seen recent numbers out of macao, and growth and revenue year over year, a nice plus for these casino companies and it's a top performer, as the s&p 500, it's number four in best spots, so certainly a winner there. stuart: all right. 120 on wynn. we'll take that. thanks so much, nicole. former british prime minister margaret thatcher dead at age 87. she was a supporter of the free market, and my take on the iron lady is next. >> what the honorable member is saying is that he would rather the poor were poorer, provided the rich were less rich.

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80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> this is a big deal. boeing's rival, that would be airbus, about to sign a deal with british airways for airbus a-350 jets worth 7 billion dollars. negotiations still ongoing. boeing stocks down just a little on that. google reportedly in talks to buy something called what app for nearly a billion dollars.

the platform app works on apple, android, microsoft, blackberry devices. the app makes about 100 in revenue a year. and macy's and j.c. penney back in court battling over martha stewart products. and trying to avoid a jury trial, no agreement, but the court hearing issues today. coming up making money with charles, and my take on that wonderful lady, the iron lady. 

>> if you listen to charles' free advice on "varney & company" and his advice, subscribers have to pay for, you would have won big with this one. and he was complaining he never gets to do a victory lap. all right. charles: i don't want to do the victory lap. i want-- i don't like doing the victory lap, but i like other people to give me the victory. stuart: you want respect. cheryl: great job!. stuart: what a guy. charles: really, i love stuff like this because the work works. stuart: when did you recommend lufkin? >> on this show february 18th. stuart: did you see the takeover by ge coming? >> i didn't see a takeover per se, but i knew it was extraordinarily undervalued. stuart: and if someone bought it they had to be in clover. charles: huge, one of the biggest unless they did some other with making money with charles. stuart: in the 50's? >> yeah, it made a big move. stuart: and you feel the

respect? i mean, you're getting what you wanted. charles: from you, yeah, yeah. stuart: cheryl. cheryl: charles. charles: cheryl is actually-- really, you know what? stuart, i've got to be honest, if you crunch with the making money with charles, viewers should be be making a whole lot of money. cheryl: you have very good picks. charles: a follow-up later on. stuart: it's on the script, i was about to say it, it's on the prompter. charles has two picks coming up later this hour. plus, we've found another reason to dislike lawyers. investors are now putting up big money to fund lawsuits as some kind of business in hopes of making a profit and now the lawyers are jumping on board with all of this. they're calling it litigation finance. let's bring in judge andrew napolitano. now, what will he say about this disgrace at 10:26 this morning. margaret thatcher, she was britain's prime minister for 11 years, she changed the country, and changed it dramatically.

and she, being the british leader in the 1970's, i might never had left. she inherited a society that was financially and more importantly, morally bankrupt. in the 1970's, britain will become a socialist economy. the government owned and ran the coal, steel, auto, airline businesses, power supply, water supply, almost all transportation, all heavy industry. if the government didn't own it, it was very, very tightly regulated. britain had become a something for nothing society with various-- it was the very much the sick man of europe, a country in dramatic decline. against all the odds and almost singlehandedly margaret thatcher reversed the moral decline. personal responsibility made a come back, capitalism was renewed. and the people responded by electing her prime minister in three consecutive elections, that's never happened before. she cut taxes, she privatized whole sections of the british economy. she demanded performance.

she restored prosperity and morality. she's passed away, but she leaves us with a quote as relevant today as when she first said it 45 years ago. quote, the trouble with socialism is that sooner or later, you run out of other people's money. she said it and, man, was she right. cheryl: it's the end of an era, it really is. that fiscal conservative group. she and ronald reagan and what they did for the country and that message, it is lost. it's gone now and all we hear about is yes, spending other people's money. stuart: that's all we hear about, the collectivists. charles: the ultimate one-two punch her and ronald reagan. i was reading your ex-favorite magazine "the economist", they have good articles and articles about england and people on welfare and it's just, they have big large families and just suck up all the money and it's just amazing how rapidly we're going backward. and yes, she revised english

after 40 years of decline and ronald reagan revived america after a major, major collapse during the the '70, and we're going backwards. cheryl: and stuart, you interviewed her. stuart: i did. cheryl: right after she left office. amazing. stuart: she was, i'm not going to say only politician, but one of the very, very few senior topline politicians who answered a question directly. you interview a politician today and you ask them about a, and they respond to the question they wanted to have asked about, b. talking points, that's all you get. charles: they have the first five answers ready, they don't care what the question is. stuart: and margaret thatcher took the question head on. by the way let's give lady thatcher the final word. we'll have more "varney & company" after this. >> to talk about the gap, they'd rather the-- down here. not there.

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>> all right. check the market, please. we're still down, significantly. 58 points lower, holding at 14-5. and here is another reason for someone like me to dislike the legal industry.

i don't know why they're all laughing. you know where i'm coming from. there's a new trend called a litigation finance. that's where investors and law firms are putting up millions of dollars to fund different types of lawsuits. they hope they're going to collect big when the verdict comes down. judge andrew napolitano is here. and the law is not a business. it is not a club to accumulate money and beat your opponent over the head with, it's not, is it? >> you sound like one of my professors in law school, and tell you how long ago that was, a couple of decades. stuart: i'm old enough to be that guy. >> the law has become a business, regrettably and thus the law has become competitive. i'll give awe classic example and see if i can change your mind. an investor makes a terrific invention and stolen by a large corporation. he doesn't have the cash to litigate to take back his invention or income off the

invention that the the corporation is making so he needs to have somebody for the litigation, it's expensive requires technical expertise not only in law, but the field of the invention. so, he goes to one of these companies and says, can you fund this litigation, and i'll share the proceeds. i think i may win 100 million dollars because i invented this thing and x, a large corporation has stolen it from me. i'm he not making this up. this is the windshield wiper stolen by, hate to use the word stolen, appropriated by one of the large detroit oil makers and ended up paying him 100 million dollars and royalties and recognition that he invented the intermittent windshield wipers at various speeds and we do automatically. without that type of investment, that theft would have been continued and he, the rightful owner would not have been able to litigate against the manufacturer. charles: but it seems like it's gone to the point if someone walks out in the street and hit

by a bus, the person that is hit by the bus and a year in the hospital ends up with less money than the other players. >> i agree it seems that way and it shouldn't. the type of litigation you're talking about, and our colleagues in the the wall street journal wrote this morning, this is sophisticated complex xhrlitigation. and it's not a person-- >> wait a second, the lawsuits were joined by private investors. >> because in order to conduct litigation of that nature, the cost of the money you have to front ordinarily is not possessed by the people who were injured. somebody-- >> isn't that in the first place? >> to point successful litigation requires vast amounts of money regardless of the veracity of your case. there's something wrong. >> there's something that needs to be addressed and this is the way to address it. the other thing that you might want to know, the people making the investments are sophisticated lawyers, they're not going to invest in frivolous

litigation, it's going to be meritorious. and some is meritorious-- >> you're praying there. i've got to move on. the president issued a statement about the late margaret thatcher, said she is a great champion of freedom and liberty, america has lost a true friend. now, i think you agree with my characterization of margaret thatcher. what do you say to the president. >> he can't possibly mean economic freedom and economic liberty because she liberated great britain from the chains of socialism through the sheer force of her will and her ability to keep the conservative party together and with its eye on the ball of personal freedom, not just civil liberties, but economic liberties and she also, along with ronald reagan and pope john paul ii won the cold war and communism without a shot.

and the most transformational individual of personal freedom. could not agree more. now, on david stockman's book. cheryl: no, let's not. stuart: all right, out of time. the e-cigarettes we've got something on that. gaining in popularity and profitable. watch out the fda might regulate them. okay? this is basically a nicotine ingesting system. i don't know why we've got the judge on the screen because he's not talking about this at all. he doesn't smoke e-cigarettes and doesn't smoke tobacco i know for a second. back in a second. >> how do i fire it it up? >> look at that. stuart: the audience cannot see that, but there's a blue light. and that's not tobacco smoke. it's water vapor.

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>> ladies and gentlemen, i'm presenting this picture without comment. that is russia's prime minister putin confronted by topless protesters accusing him of being a dictator. perhaps his face tells the entire story. the fda expect today propose regulations for electronic cigarettes this month. they're smokeless cigarettes and

give off a vapor mist and give you the nicotine you supposedly crave. makes those cigarettes. >> good morning, thank you so much for having us. >> good morning, and thank you so much for having us. stuart: you're welcome. i think you're going to be regulated because-- you might basically have a to be regulated. can you say? >> yeah, well, they try to regulate the industry, try to put age restriction on the product, but before we approach regulations and what they do, it's about time the fda step up and say and look the public in the eyes and say what is really happening there? electronic cigarettes are filthier and safer, it's about that. >> are you making that claim? you gave me one before we started here, an electronic cigar basically. if i spoke this end, i get nicotine into my lungs. that's what happens. >> that's right. >> tell me the health?

i'm ingesting nicotine. >> right. it is designed to smoke cigarettes, not for the nonsmokers, but those who are looking for a rem gi. the patch and gum didn't work. the vapor, the motion, the flavor, and the nicotine. this is why the product is working. >> this is why the product will be regulated because you are offering, you are delivering a drug, which is addictive, mainly, nicotine. >> the product with nicotine is for smokers only. >> understood. >> if they want to regulate it, put age restrictions on it -- >> you say it's designed only for smokers, people who currently smoke. what about people -- nicotine is not that bad, concentration, a buzz, why not do it legally even if i don't smoke cigarettes. i can get that from this thing, couldn't i?

>> go to a nightclub, have your friend with a glass of vodka, getting enjoyment from alcohol. >> what about the differences in the health costs basically? if i smoked this, i'm not going to get lung cancer; right? is that the whole selling point of this electronic cigar? >> not so bad -- >> are you making that claim. i want to talk about what i can and can't do. from the fda, this is the project because we can't sell them healthier, but safer. >> you've done studies, i'm sure; correct? cheryl: you've done the studies. >> there are studies out there. and made by the universities, but talking about-- i think the fda has to come out and announce that it's safer and much healthier. charles: and you do that and-- >> absolutely, they have our money and we're the taxpayers and working for us and-- . 400,000 americans dying every year for smoking cigarettes and

it's about time they step up and need to step up. >> someone argues, devil's advocate, they puff on that all day long, smokes ten cigarettes smokes on that 12 hours a day. fda's not going to do that. what about being preemptive. if you let the fda open up op your industry, if you play countermatch, you lose. put a label on there now just because if you don't, -- >> restrictions on nicotine for adults only. we have -- >> are you tax free at the moment? >> i hope that somehow it's tax season and maybe if the fda wants to do something, if the government wanted to do something good, about time. maybe we'll get tax deductions because they save the taxpayers billions of dollars. >> dream on because they are going to regulate you and tax you. i can see it coming a mile off.

>> a lot of people will be standing and demonstrating about this regulation, and it depends on what you do, but it is -- >> it's not going to kill your business, you're saying? >> i don't think so. it's a light enough for the smokers. a dream comes true for every smoker. logic electronic cigarettes. >> thank you for joining us. >> thank you so much. >> connell has an interview with the head of the mayo clinic and med tronnic. will obamacare kill his business? and that will be 11:30 a.m. next, the true star making his way into the studio. john is coming off wrestle mania. big money for wwe, talking tens of millions of dollars. and he's here and enters the "varney & company" ring and he's

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national average back to 3.359, six cents lower in two weeks. oil going up to the $93 # per barrel level as of right now. the verge is reporting that microsoft will announce details of the new xbox county cul last month, speculation of redesigning hardware, and nonstop internet connections speculations, and microsoft down at 28.5 # 1. i own in. remember that please. airline passenger complaints rose 20% last year. airlines continue to sliping the size of seats on the planes, not popular, and ticket prices are up, hate that. they are not popular, are they? next, the man who won wrestlemania, still in good shape from last night. @

>> look out below, best buy is down, and i mean, big. why? >> look at best buy, down 2.5%. you had a couple margin -- sorry, comments from some of the analysts. margin opportunity significant saying they outperformed. bernstein raised the price target, but the stock is downright now. certainly one we'll continue to watch. >> all right. always up, always down. day traders love that thing. >> oh, sure. >> they do. >> say happy birthday to john cena, it's in a couple weeks.

>> it's in a couple weeks? >> yeah. >> you know wrestlemania, i take it. >> you jumped the gun. >> he's not due for another couple minutes. we talked about charles' big winner. he made a big victory lap about it, and two more stocks. number one? >> american rail car. we talked about keystone this morning, make the cars that transport oil, going to be huge no matter what whether keystone is done or not, undervalued trayly. >> $41 a share, where is it going? >> 50 on that. >> 50? charles: my target is 50 on that. stuart: 50. within? >> six months or less. stuart: weatherford international. charles: this piggy backs off the lufkin play grand slam this morning. a bigger player in the space. for oil, they use primarily electronic pumps. these guys make the pumps that are moving out of the way, missed the streak last three quarters, but it's the most undervalued right now.

okay? i think it's going to be a grand slam. >> grand slam. >> you should listen to him because -- >> you're not going to get me a belt like john's got. >> right? you bring the wallet? >> did you hear -- that was john cena, okay. i think you have a better voice than charles, but i don't know. remember last -- join the championship fight, john ce enrings a beat dwien the rock johnson to take home the wwe title, and john is ready for the program. >> thank you. >> you are why remarkably good shape. you don't have a scar. >> i am exhausted. i feel great. i managed to get out without a scratch. my opponent finished second, it

was a classic. >> 123 countries on pay-per-view. >> broadcast in 123 countries, 20 languages, available on pay-per-view, and xbox live, a kick to microsoft. >> and i own that stock. >> and samsung smart tv. more and more ways to enjoy wwe. >> it's entertainment. >> we coin the phrase "sports entertainment," the only company to give the drama and suspense of a walkoff home run for the world series of the final four and meld that with the entertainment values. >> who is your demographic? >> we don't have one. >> it's 8-year-old boys. >> back in 1999, it was 18-40 #-year-olds. we were teen focused, very jeer respringerrish, and our chairman realized to grow the business and audience, we had to broaden the audience, stepping the

content back. since 2006, we're tv-pg company. every family can enjoy. we got the phrase this is a great product, but the kids can't watch it. >> i interviewed your cfo, and the audience in latin america is the fastest audience, young to old. >> we have booming international markets in latin america, india, china, in russia. we travel -- >> sounds like boosting the target. >> we tour the globe. three live events a year, tour worldwide, televised in 120 countries. we get the message that transcends language. if you don't understand english, if you don't understand english, throw on the television, i like this guy, i don't like this guy, i know there's a winner. charles: a wrestling question, who is next, the undertaker, >> when you're the champings you don't ask who is next. they gun for you. any time, anywhere, anyone.

>> do you have a piece of the company, or do you just receive a fee for winning in the fights and the rest of it? >> no, i obviously, am paid as an employee, but i invest. i'm a strong supporter. i truly believe we have the best live company. >> are you fighting tonight? >> i am. we are well over a thousand episodes, and tomorrow, we go to boston, massachusetts to the north gardens to film friday's tv show. >> how do you not get injured? that's the biggest question. >> my elbow, i broke my neck. i've torn the right pictorial muscle. it's a contact live event. there is contact, people do get hurt. we are professionals. don't try it at home, but i know the risks of the job, and i'm willing to do that. my power suit is different than your, and i like where i'm at.

>> my power suit -- >> good to know we have a power suit. cheryl: didn't know you had a power suit on. stuart: john, that was a lot of fun. fun. john cena. g it is entertainment. stuart: it's entertainment. >> it is, we want our consumers to enjoy and be entertained and they were last night at wrestle mania and 362 days for the wrestle mania in new orleans. stuart: a good commercial, i john, thank you very much indeed. >> thank you. >> more varney and company after this. to generate inco me with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

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>> of the 8 million people on disability, truly disabled and incapable of work. i don't know. here's my take. over there, it's the incapacity benefit, the british equivalent of our disability program. you have a long term problem, can't work, government gives you money. got it. the brits said let's see if claimants can prove it. comb through the railroads. prove that you can't work. one-third would be dropped if a new test was applied, and of those currently getting disability, half could, in fact, work if they were pushed back into the labor force.

the left has gone crazy blaming the victims of rapacious capitalism. how dare you. the response was predictable. the question for us is this, does the british experience hold a lesson for america? the 8.8 million disabled play the system here. well, consider this, 15% on disability today have a mood disorder, hard to prove you don't have it, especially if you have a compliant doctor and sharp lawyer on your side. what about unprovable back pain? 29% of claimants site muscular skeletal problems. genuine? we can be skeptical without being harshed. here's what i know. people who work in america are supporting an ever growing number of people who don't work. this is a drag on the economy. it is driving our debt higher. unfortunately, the president doesn't appear to care.

redistribution is the goal. productive america is demoralized and sinking deeper into debt.

>> the highlight reel is about the passing of margaret thatcher. stuart: the highlight real reel is about the sad passing of margaret thatcher. margaret thatcher is dead at the age of 87. >> she stood for freedom and liberty in the world and she empowered people. >> i say we need margaret than ever. >> end of an era. really is, that fiscal conservative group, she and reagan and what they did for the country in that message. it is lost. it is gone now. >> one of the very, very few senior top line politicians who answered a question directly. she liberated great britain from the chains of socialism through the sheer force of will and her ab